Tax Blog

On October 12, 2010, the Internal Revenue Service (IRS) issued final regulations under a law change that will require additional reporting to investors and the IRS by stock brokers and mutual fund companies for most stock purchased in 2011, and all stock purchased in 2012 and later years. The additional reporting is optional for stock purchased prior to January 1, 2011.

For many years, people have had the option of applying for a Refund Anticipation Loan (RAL) for the convenience of picking up a check usually in fewer than 24 hours. Many tax preparation companies can no longer offer this attractive option. And for those who still can, this is the last year RALs will be available.

If you have a Traditional IRA, [SEP, 401(k), 403(b)]* you have a first-time tax planning opportunity to convert them to a Roth IRA, regardless of your income level.

For years you've heard of Refund Anticipation Loans (RALs). Fiscal Tax was the first tax preparation company in Indiana to offer them in the form of Express Refunds. Other tax preparation companies followed suit a year later. For the tax year of 2011, there is now an alternative that is sure to be the most popular way ever to get your tax refunds.